Available homes for sale continue to go down. We currently only have 145 homes available for sale in all of NW Seattle. This is not what we normally see this time of year. Historically, Inventory levels tend to be relatively high August through October, and then start to come down towards the end of October and continue that trend through the end of the year. As we talked about a couple of weeks ago, homes going under contract have been able to keep up with new listings coming on the market. Which again, isn’t not normal for this time of year.
One of the metrics we track weekly is the number of homes that have Review Dates. This is the day that Brokers post in the MLS that the Seller intends to look at any and all offers. The hotter the Seller’s Market, the higher percentage of listings have review dates. In June and July roughly 80% of listings had review dates. That number has been coming down.
For the past two weeks 62% of new listings had review dates. The review date is a reflection of what Brokers are feeling in the market. If they perceive the market slowing down a bit, then they will quit having review dates.
The market for the past month has been improving since August. So far in October it is taking just 12 days for homes to sell and 76% were under contract in 9 days or less.
-Steve & Sandra
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑎𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
Steve 📲 (c) 206-769-9577 📧stevehill@windermere.com
Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com
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